Ethereum plunges to 2023 low as Black Monday fears return

- Bitcoin falls below $78,000, cryptocurrency market volatility - Ethereum hits new low below $1600, Black Monday concerns [Unblock Media] The cryptocurrency market is experiencing significant volatility due to worries about 'Black Monday'. Bitcoin (BTC) has dropped below $78,000, and Ethereum (ETH) has fallen below $1600. This signifies the breakdown of important psychological and technical support levels. According to Reuters, Bitcoin fell by 5% to $78,892.92 as of 18:55 GMT on April 6, and Ethereum dropped by about 9.62% to $1617.65 as of 18:59 GMT on the same day. Additionally, the Ethereum to Bitcoin ratio (ETH/BTC) has fallen to the lowest level since March 2020. This decline in the ratio reflects that investors prefer Bitcoin over Ethereum, indicating increasing market uncertainty. This sense of panic is also spreading to traditional financial markets. Legal analyst and political commentator Ron Filipkowski warned on his social media, "Brace yourself for one of the worst Black Mondays in Wall Street history." Meanwhile, investor and entrepreneur Ryan Cohen tweeted, "Breaking: Jim Cramer saves the stock market by predicting Black Monday 2025." This can be interpreted as a satire on CNBC host Jim Cramer's market predictions. Stock market futures are also showing a downward trend, increasing concerns over the possibility of widespread financial losses on Monday. Some analysts describe this as a prolonged adjustment, while others see it as a warning of systemic vulnerabilities.